AXA XL and Neptune Flood, an all-digital flood insurance program administrator, have entered into a strategic underwriting partnership intent on expanding Neptune's flood insurance capacity to homeowners throughout the United States.

According to Chris Bressette, senior vice president and head of AXA XL's North America program business, "Private residential flood insurance in the U.S. has emerged as a rare growth opportunity in an otherwise crowded P&C market. We are thrilled to be working with such a capable delegated program administrator partner. Neptune has very strong technical analytic capabilities, a deep understanding of related legislative issues, and a unique and responsive client service platform."

"We are very proud to partner with the world's largest commercial property and casualty insurer to accelerate Neptune's growth, giving us the ability to expand our strategic alliances and coverage territory. The additional capacity and underwriting expertise of AXA XL will expand the availability of private flood and ultimately change the way homeowners buy flood insurance," said Jim Albert, the chief executive officer of Neptune's flood insurance business.